§1002.103. Covered applications.
12 C.F.R. § 1002.103
Covered application. Except as provided in paragraph (b) of this section, covered application means an oral or written request for a covered credit transaction that is made in accordance with procedures used by a financial institution for the type of credit requested.
Circumstances that are not covered applications. A covered application does not include:
Reevaluation, extension, or renewal requests on an existing business credit account, unless the request seeks additional credit amounts.
Inquiries and prequalification requests.
Notes, amendments, and revision history
Source
Source: 88 FR 35528, May 31, 2023, unless otherwise noted.
Authority
Authority: 12 U.S.C. 5512, 5581; 15 U.S.C. 1691b. Subpart B is also issued under 15 U.S.C. 1691c-2.
Source
Source: 76 FR 79445, Dec. 21, 2011, unless otherwise noted.